Kingu?l? Aval hydroelectric power plant project attains financial closure

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The Kinguélé Aval hydroelectric power plant project in Gabon has reached a new stage, (financial closure), following the signing of the last financial agreement by the project developer, Asonha Énergie.

Asonha Énergiei s 60% and 40% owned respectively by Gabon Power Company (GPC), a subsidiary of the Gabonese Strategic Investments Fund (FGIS), and Meridiam, a company specializing in the development, financing, and long-term management of sustainable public infrastructure.

The financial contributors

The total investment required for the implementation of the project amounts to approximately 179 million euros, all of which has been raised thanks to the participation of the African Development Bank (AfDB) and the International Finance Corporation (IFC), the subsidiary of the World Bank Group responsible for financing the private sector.

The Development Bank of South Africa (DBSA) and the Emerging Africa Infrastructure Fund (EAIF), a fund owned by the Private Infrastructure Development Group (PIDG), have also contributed to the financial closure of the Kinguélé Aval hydroelectric power plant project.

Project Description

Set for development on the River Mbé, in the northwest of Gabon, about 90 km east of Libreville, the Kinguélé Aval is a proposed run-of-river 34.5 MW hydropower project that will have an average annual power production of 200 GWh.

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It will utilize the steep gradient of the Kinguélé Falls, which comprise about 20 rapids of 1-5 m height to provide the hydro-energy potential.

A concrete dam with a height of 48 m and a crest length of 470 m will be constructed as well as a 300-m power line to connect to the existing 225 kV TL and less than 1-km of new access roads in addition to realignment of 1.4 km of the existing access road to route it around the new reservoir upstream of the dam.

The implementation of the project is expected to take 40-45 months.